Shares of MiMedx Group Inc. (NASDAQ:MDXG) dropped 2.1% during mid-day trading on Monday . The stock traded as low as $7.78 and last traded at $7.82, with a volume of 576,581 shares changing hands. The stock had previously closed at $7.99.

MDXG has been the topic of several recent research reports. Needham & Company LLC reduced their price objective on MiMedx Group from $13.00 to $12.00 and set a “strong-buy” rating on the stock in a research report on Monday, April 11th. Zacks Investment Research upgraded MiMedx Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. Brean Capital restated a “buy” rating on shares of MiMedx Group in a research report on Wednesday, June 29th. TheStreet downgraded MiMedx Group from a “buy” rating to a “hold” rating in a research report on Monday, April 25th. Finally, First Analysis downgraded MiMedx Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $14.00 to $9.00 in a research report on Wednesday, April 27th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. MiMedx Group has a consensus rating of “Buy” and a consensus price target of $10.89.

The company’s 50-day moving average is $7.89 and its 200-day moving average is $8.04. The firm has a market capitalization of $850.09 million and a PE ratio of 33.59.

MiMedx Group (NASDAQ:MDXG) last posted its earnings results on Tuesday, April 26th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by $0.01. The company earned $53.40 million during the quarter, compared to analysts’ expectations of $54.05 million. Equities research analysts predict that MiMedx Group Inc. will post $0.31 EPS for the current fiscal year.

In other MiMedx Group news, CEO Parker H. Petit bought 50,000 shares of the stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average cost of $6.74 per share, for a total transaction of $337,000.00. Following the transaction, the chief executive officer now directly owns 4,919,121 shares in the company, valued at $33,154,875.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO William Charles Taylor sold 24,333 shares of the firm’s stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $7.52, for a total value of $182,984.16. Following the completion of the sale, the chief operating officer now owns 616,078 shares in the company, valued at $4,632,906.56. The disclosure for this sale can be found here.

Other hedge funds have bought and sold shares of the company. Parsons Capital Management Inc. RI boosted its stake in MiMedx Group by 1.5% in the fourth quarter. Parsons Capital Management Inc. RI now owns 718,700 shares of the company’s stock valued at $6,734,000 after buying an additional 10,650 shares in the last quarter. Principal Financial Group Inc. boosted its stake in MiMedx Group by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 672,248 shares of the company’s stock valued at $6,299,000 after buying an additional 29,523 shares in the last quarter. Wells Fargo & Company MN boosted its stake in MiMedx Group by 19.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,041,546 shares of the company’s stock valued at $9,759,000 after buying an additional 169,102 shares in the last quarter. Rhumbline Advisers boosted its position in shares of MiMedx Group by 13.1% in the fourth quarter. Rhumbline Advisers now owns 129,375 shares of the company’s stock valued at $1,212,000 after buying an additional 15,005 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of MiMedx Group by 573.5% in the fourth quarter. First Trust Advisors LP now owns 140,573 shares of the company’s stock valued at $1,317,000 after buying an additional 119,701 shares during the period.

MiMedx Group, Inc (MiMedx) is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues and human skin and bone. The Company operates in the Regenerative Biomaterials business segment, which includes the development, processing and marketing of regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues in the wound care, surgical, sports medicine, ophthalmic and dental market categories.

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